New Organizational Business Models Adapted to Inclusive Innovation

Innovation systems are complex, and their effectiveness depends on ability to respond to the requirements of the economic and societal system by doing business. For these reasons, it is necessary to study business models. This objective of this paper is to define the key concepts for business model innovations suitable for inclusive innovation, to define the dimensions of a business model and adequate tools. It is explored the relation between Business Model and Business Model Innovation. Starting from the Requirements for Business Model Innovation with the support of six case studies the business model innovations that are suitable for inclusive innovation are presented: Co-creation of value involving consumers, Community engagement, Continuous monitoring of customer needs, Technological innovation, Focus on cost reduction, Cross-subsidization. The most established tool in the field of business development for identifying new business ideas, the Business Model Canvas is illustrated for a company in the banking sector.